Restaurant Brands Fourth Quarter Sales

7 March 2019
ASX/NZX


Restaurant Brands’ Full Year Sales Up 7.2% with Strong Growth in Overseas Operations

Restaurant Brands’ total sales for the 12 months ended 25 February 2019 were $794.0 million, up 7.2%
on the prior year.

Restaurant Brands’ Chairman Ted van Arkel expressed the Board’s satisfaction with this result,
particularly the sales achieved by the KFC and Taco Bell brands that have been earmarked for future
expansion.

New Zealand operations generated sales of $419.8 million, down 0.4% on a total basis mainly as a
result of the sale of Starbucks Coffee in October 2018, and up 2.7% on a same store basis. Australian
KFC outlets produced sales of $NZ191.5 million, up 27.8% on a total basis with a full year’s trading from
last year’s acquisitions, and 4.7% on a same store basis (local currency). Hawaiian operations
generated sales of $NZ182.7 million, up 4.1% on a total basis and 2.0% on a same store basis (local
currency).

Restaurant Brands’ total sales during the fourth quarter of the financial year (12 weeks ended 25
February 2019) were $181.6 million, an increase of $0.2 million or 0.1% on the equivalent period last
year.

Total company store numbers were down by 31 on the equivalent period last year to 283, primarily
because of the sale of the 22 Starbucks Coffee stores in October and the sale of eight New Zealand
Pizza Hut stores to independent franchisees.

KFC New Zealand

Full year sales for KFC New Zealand were $336.5 million, an increase of 5.3% in total and up 4.3% on
a same store basis.

Fourth quarter sales for KFC New Zealand were $80.1 million, an increase of 5.7% on the equivalent
period last year and up 5.6% on a same store basis for this quarter.

Store numbers remained steady at 94 during the quarter.

Pizza Hut New Zealand

Full year sales for Restaurant Brands-owned Pizza Hut stores were $35.4 million, a decrease of 14.0%
in total, and down 6.1% on a same store basis.

Total fourth quarter sales for Restaurant Brands-owned Pizza Hut stores were $7.3 million, a decrease
of 18.5% on the equivalent period last year. Same store sales for the quarter decreased by 9.4%.

Restaurant Brands-owned store numbers increased by one during the quarter and down by six from last
year to 30, primarily due to eight Pizza Hut stores being sold to independent franchisees. There are
now 68 Pizza Hut stores operated by independent franchisees, with the total network at 98 stores.

RESTAURANT BRANDS NEW ZEALAND LIMITED

Network total sales for the full year were $101.0 million, an increase of 0.2%. Network sales for the
quarter were $22.0 million, a decrease of 3.4%.

Starbucks Coffee

Full year sales for Starbucks Coffee were $16.0 million, an increase of 4.0% on a same store basis.

The 22 Starbucks Coffee stores were sold on 23 October 2018.

Carl’s Jr.

Full year sales for Carl’s Jr. were $31.9 million, a decrease 8.8% on a total basis and 3.3% on a same
store basis.

Total Carl’s Jr. sales for the fourth quarter were $7.4 million, a decrease of 7.4% on the equivalent
period last year with the network having one less store than last year. Same store sales for the quarter
were down by 1.5%.

Store numbers remained steady at 18 during the quarter.

KFC Australia

Full year sales for KFC Australia were $A178.3 million ($NZ191.5 million), an increase of 27.8% on a
total basis and 4.7% on a same store basis (local currency).

Fourth quarter sales for KFC Australia were $A41.9 million ($NZ43.9 million), an increase of 7.2% on a
total basis and 6.9% on a same store basis (local currency).

Store numbers decreased by one to 61 stores during the quarter with the closure of a store following
the opening of a replacement store in Bondi last quarter.

Taco Bell Hawaii

Full year sales for Taco Bell were $US72.3 million ($NZ106.0 million), an increase of 5.9% on a total
basis and 5.1% on a same store basis (local currency).

Total Taco Bell sales for the fourth quarter were $US16.9 million ($NZ24.8 million), an increase of 5.6%
on a total basis and 6.5% on a same store basis (local currency).

Store numbers remained steady at 36 during the quarter, and reduced by one on last year with the
closure of the Taco Bell Pearlridge store due to the lease expiring.

Pizza Hut Hawaii

Full year Pizza Hut Hawaii sales were $US52.4 million ($NZ76.7 million), an increase of 1.8% on a total
basis and a decrease of 2.1% on a same store basis (local currency).

Total Pizza Hut Hawaii sales for the fourth quarter were $US12.3 million ($NZ18.0 million), a decrease
of 2.1% on a total and same store basis (local currency).

Store numbers reduced by one to 44 during the quarter with the closure of the Pizza Hut Kona store
due to the lease expiring.

Full Year Result

Restaurant Brands will be announcing its full year trading results on Tuesday 16 April.





For further information please contact:

Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8710 Phone: 525 8710

ENDS

2018/19 ($000's)
2017/18 ($000's)Change
Total Store Sales ($NZ)
Q4 2018/19 vs Q4 2017/18

KFC New Zealand80,057

75,741
5.7%
Pizza Hut New Zealand7,331

8,991 -18.5%
Starbucks Coffee
-
6,416 -100.0%
Carl's Jr.
7,446
8,039 -7.4%
New Zealand
94,834 99,187
-4.4%
KFC Australia *
43,886 42,701

2.8%
Taco Bell *24,822
22,115 12.2%
Pizza Hut Hawaii *18,009 17,300
4.1%
Hawaii *42,830
39,415

8.7%
Total Store Sales
181,551

181,303
0.1%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand336,534
319,597

5.3%
Pizza Hut New Zealand35,350

41,111
-14.0%
Starbucks Coffee16,022
25,818
-37.9%
Carl's Jr.31,864
34,921
-8.8%
New Zealand419,770 421,447

-0.4%
KFC Australia *191,547
151,844
26.1%
Taco Bell *106,004

95,487
11.0%
Pizza Hut Hawaii *76,725
71,997
6.6%
Hawaii *182,729 167,484
9.1%
Total Store Sales794,046 740,776

7.2%
* - Converted at exchange rates on following page
Same Store Sales (Local Currency)
Q4 2018/19 vs Q4 2017/18
KFC New Zealand79,112
74,936 5.6%
Pizza Hut New Zealand6,725
7,427
-9.4%
Starbucks Coffee
- - -
Carl's Jr.7,345
7,456 -1.5%
New Zealand ($NZ)93,182 89,819
3.7%
KFC Australia ($A)40,096
37,509 6.9%
Taco Bell16,585 15,575
6.5%
Pizza Hut Hawaii12,019
12,272 -2.1%
Hawaii ($US)28,604 27,847 2.7%
YTD 2018/19 vs YTD 2017/18
KFC New Zealand330,209 316,663
4.3%
Pizza Hut New Zealand33,968 36,170
-6.1%
Starbucks Coffee15,993 15,374
4.0%
Carl's Jr.31,759
32,853 -3.3%
New Zealand ($NZ)411,928 401,060
2.7%
KFC Australia ($A)140,250 133,967 4.7%
Taco Bell69,551
66,184 5.1%
Pizza Hut Hawaii49,485 50,547 -2.1%
Hawaii ($US)119,036
116,731 2.0%
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report
Summary of Results for the 4th Quarter (Q4)
(for the 12 weeks 04/12/18 to 25/02/19)

2018/19 ($000's)
2017/18 ($000's)
Change
Total Store Sales (Local Currency)
Q4 2018/19 vs Q4 2017/18
KFC Australia ($A)
41,896
39,067
7.2%
Taco Bell
16,942
16,048 5.6%
Pizza Hut Hawaii12,286

12,554
-2.1%
Hawaii ($US)
29,228

28,603

2.2%
YTD 2018/19 vs YTD 2017/18
KFC Australia ($A)
178,309
139,527

27.8%
Taco Bell72,324 68,295
5.9%
Pizza Hut Hawaii
52,399
51,493
1.8%
Hawaii ($US)
124,723
119,787
4.1%
2018/19
2017/18Change
Number Of Stores Open At Quarter End
KFC New Zealand
94
94
-

Pizza Hut New Zealand
30 36
-6
Starbucks Coffee-
22
-22
Carl's Jr.
18
19 -1
New Zealand142
171
-29
KFC Australia61
61
-

Taco Bell36
37
-1
Pizza Hut Hawaii44
45
-1
Hawaii80 82
-2
Total Stores
283 314
-31
Exchange Rates
- Blended $A:$NZ rate for Q40.955
0.915 0.040
- Blended $A:$NZ rate for YTD0.931 0.919
0.012
- Blended $US:$NZ rate for Q40.682 0.726
-0.043
- Blended $US:$NZ rate for YTD0.683
0.715 -0.033
Note: Some Sales numbers for each of the concepts may not aggregate in total due to rounding.
Summary of Results for the 4th Quarter (Q4)
(for the 12 weeks 04/12/18 to 25/02/19)
RESTAURANT BRANDS NEW ZEALAND LIMITED
Quarterly Sales Report